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You should consider whether you can afford to take the high risk of losing your money. Customer Support is one of the key services a decent broker has to provide. The staff should be well trained and competent to perform their duties and answer any questions customers might have without hesitation. Another feature of the customer support that gives a good reputation to the broker is politeness and patience with their clients.
An STP broker offering multi-asset trading, Hotforex is a good broker for both beginner and experienced traders alike. In addition, HotForex has a bespoke copy trading account, excellent customer support, and world-class educational Currency Pair content and market analysis. As more and more online trading platforms have entered the market, minimum deposit requirements to open a live trading account have gone down as an increasing number of brokers compete for new clients.
We have reviewed the top forex brokers on the market today and come up with a list of select few. All the brokers are regulated and offer competitive trading services on state of the art trading platforms. 6 core trading accounts called Micro, Premium, Zero Spread, Auto, PAMM and HFcopy. hotforex forex broker review Every account types offer commission-free trading for Forex pairs, while the Zero Spread account is commission-based but with spreads from 0 pips on Forex. Users can access 1,000+ trading instruments across Forex, Commodities, Indices, Shares, Bonds and Cryptocurrency CFDs.
Traders can use the WebTrader of MetaTrader 4 and 5 which does not require installation, and traders can directly login and start trading via browser. For example, you can compare the accounts, you can choose to compare up to 4 accounts, and scroll down to see a listed comparison, which can help greatly to make your decision. Most of the accounts trade using 4 currencies, which are USD, EUR, JPY, and NGN. On the other hand, Auto Account deals with EUR and USD only, while the HF Copy Account deals only with USD.
But when you are a new client, begin by registering a new myHF account to gain access to myHF area then launch the Demo Account. Rather, this broker company has extremely Forex news low slippages and swap. Online Payment Methods – Deposit in the range of $5 to $10,000 using online payment methods such as Bitcoin, Bitcoin Cash, and FastPay.
The fee is depending on the leverage, trading product, and currency. Note that the swap can be positive in forex trading because of the interest rates. In an advanced market like this, your HotForex account and your financial trading are right in the palm of your hand. With the use of the HF app, all you need to do on the website are made available in a few clicks. The mobile app will enable you to comprehend the markets using fast trading tools and recent news updates plus financial market analysis. The myHF area feature has been integrated into the HF app so that no users can have direct access to the app.
Live Chat– Click on the live chat button at the top of the website to launch the live chat window. To get help at Hot Forex, you have to click on the Contact Us 24/5 link right at the top of the website. This takes you to a page listing various ways of getting in touch with the online broker. Online Payment Methods – Withdraw a minimum of $5 instantly using FastPay, Neteller, and Skrill. Neteller and WebMoney – Make instant deposits in the range of $5 to $10,000 using these electronic payment processors.
In both cases, you will get access to myHF client area where you can manage all your accounts and finances. While trading with HotForex you can operate with fixed or floating leverage, which is indeed a very useful tool, especially for traders of smaller size. Leverage brings an opportunity to increase your potential gains through its possibility to multiply balance in a particular number of times. Yet remember that leverage may work in reverse too, defining also your risks, that is why it’s so important to understand how to use tool smartly. Also, there are HotForex entities that are registered in offshore zones alike Mauritius, SVG and Seychelles. While our general recommendation is not to trade with offshore brokers as they simply do not regulate Forex trading, due to HotForex multiple parallel regulations it is considered to be safe to trade with them.
HotForex Android – You can use this platform to trade on the go on your Android smartphone and tablet. Regulated Service – The company has been regulated and authorized in St. Vincent & the Grenadine. Since then HotForex managed to receive numerous awards in different nominations. One of the most notable ones is the World Finance Top 100 Global Companies award, which indeed is the hardly achieved honor. Furthermore, HotForex received the title of the Most Transparent broker from The European within the Global Banking & Finance Review awards.
The fee may be a fixed fee when you deposit a specific fiat currency to your account. For example fees are known to be high when depositing funds from a credit card. This is if your broker accepts funding your account via a credit card. Brokers that require a larger minimum deposit amount usually offer a greater range of trading features on their platforms. These brokers often have more in depth technical analysis and research tools and better risk management features. Often you have to visit and read many broker websites all of which have different uses of language.
Hot Forex offers Forex traders a range of tools and services in order to improve their trading experience, assist them in finding the right trading opportunities and increase their knowledge about the markets. The “Tools” section of the Hot Forex website is loaded with in-house developed tools as well as third party tools which are beneficial to all types of traders. While not every trader will need the offered features, the choice is more than sufficient, with something for every type of trader. Spreads refer to the difference in bid and ask prices, which at Hot Forex can be as low as 0.1 on select premium accounts with an average starting pip of 1.0. Commissions are charged on their 0 Spread Account as well as on indices at a rate of $1 per lot and on CFD’s on stocks at 0.10% of the trade value.
HotForex promises fast transactions 24/5 during normal trading hours, and does not apply any deposit fees. A number of payment methods are supported including Visa and Mastercard, wire transfer, American Express, WebMoney, Skrill, Neteller, and a number of others. VIP trading account – Minimum trading volume is half a standard lot, and benefits increase alongside trading volume. Asia plays an important role in the Forex market, especially with brokers such as the HotForex broker who was once voted the best online broker in Asia . The company was established in 2008 and steadily climbs the ladder of success in the highly competitive Forex market.
In addition to that, HotForex incorporates the use of MT4 and MT5 that are compatible with any mobile device using Android and iOS, making it easier for clients to trade on the go. The broker is also known for its numerous bonuses and promotions. For example, the HotForex bonus 100% and 30% rescue bonus are great to keep the trader engaged.
HotForex warns all potential traders that Forex and CFDs trading always carries a high level of risk and may not be suitable for all investors. HotForex’s pricing strategy shows transparency with one of the lowest rates in the industry, with negative balance protection available for traders worldwide. One of the first things a potential trader needs to establish is whether a broker like HotForex is safe to trade with. One of the surest benchmarks to measure the safety of a brokerage is to establish which regulating authorities are watchdogs over its actions. HotForex does not charge additional fees or commission, making your calculation of the position easier despite the level of trader you are.
HotForex require a minimum desposit of 5 GBP/USD/EUR when opening an HotForex trading account. Services and products are tailored to specific requirements while presenting an inclusive range of clients’ accounts, platforms, tools, and instruments. Potential traders need to be assured that the broker company they chose can offer the necessary support and help whenever they may need it. As with currency exchange markets, commodity markets offer different investment opportunities for traders. Investing in contract-based tradable goods is a reliable way to mitigate risk during times of inflation or economic uncertainty.
HotForex offers both MT4 – the most popular trading platform in the world – and MT5 – the latest version of the industry standard. As well as the desktop applications, HotForex also offers MT4 and MT5 WebTerminal, which are browser-based version of the platforms, along with mobile and tablet versions Day trading of both iterations. Bank Wire – HotForex will cover the fees for transfers over the minimum amount of 250 USD. The funds will be added to your trading account within one business day of the funds reflecting in HotForex’s account. Traders are guarenteed to close your trade at your specified price.